Lazard named Robert Frost CEO of the firm’s Middle Market Advisory practice, based out of Minneapolis. Frost will succeed David Solomon, who is stepping down as part of a planned succession. Solomon will then take on a more active role in the firm’s Middle Market Consumer Retail Group.
“Under David Solomon’s leadership, Lazard’s Middle Market Advisory practice has expanded and evolved to become a vital component of Lazard’s global franchise, with a record year in 2017,” said Matt Lustig, head of North American Investment Banking at Lazard. “As the practice becomes increasingly integrated with our global sector teams and service groups, Bob has proven himself to be the right person to lead the business in its next phase of growth.”
Frost will continue to serve as co-head of Lazard’s Middle Market Industrials Group, in which he represents companies in a wide range of industrial sectors on M&A advisory and restructuring assignments. Before joining Lazard in 2008, he spent nine years in the M&A practice of Piper Jaffray. Prior to his nearly two decades in investment banking, he spent seven years in public accounting with Deloitte & Touche.
Solomon joined Lazard in 2007 as part of Lazard’s acquisition of Goldsmith Agio Helms, where he was co-CEO. As CEO of Lazard’s Middle Market Advisory practice, he oversaw the growth and evolution of the business within Lazard’s global franchise. He joined Goldsmith Agio Helms in 1991.
Lazard’s Middle Market Advisory practice provides substantive financial and strategic advice on M&A, financing of debt and equity, and restructuring to mid-sized companies.
